Ørsed closes the deal on Borkum Riffgrund 2

Ørsted has finalized the divestment of part of their offshore wind farm Borkum Riffgrund 2. In August the price of the purchase was set to 1,17 billion EUR, something close to 8,7 Danish Kroner. The project is being constructed in the German part of the North Sea. Dong Energy are in charge of the construction.

"In extension of our announcement on 7 August 2017, Ørsted has today finalized the divestment of 50 percent of the wind farm Borkum Riffgrund 2 to Global Infrastructure Partners (GIP). The payout for the purchase will happen in 2017, while the payments for the EPC contract will occur in 2017 and 2018, "Ørsted has written in a statement.

Now that the divestment deal is done, the company expects a result before taxes and special posts for the whole year to be around 21 billion Danish kroner, compared to the earlier announced flunctuation of 19-21 billion Danish kroner.

The deal between DONG Energy and GIP is the second joint venture between the two corporations. The first was GIP’s purchase of 50 percent of the offshore wind farm Gode Vind 1 in 2015.

The purchase does not interfere with Ørsteds expected levels of investment for 2017.